Chairman Tegeltija Holds Video Conference with IFIs Representatives in BIH

Chairman of the Council of Ministers of BIH Zooran Tegeltija held today a video conference with representatives of international financial institutions in BIH – International Monetary Fund Resident Representative in BIH Emanuel Salinas; Head of the European Bank for Reconstruction and Development BIH Office, Manuela Nesl; head of the European Investment Bank BIH Office, Sandrin Fiska; and representative of the International Financial Corporation, Lada Buševac, on the current situation in BIH and possibilities and response models to the coronavirus outbreak-caused crisis. 

This was an opportunity for Chairman Telgetija to thank to the international financial institutions representatives for a quick response and readiness to assist BIH.

In addressing the conference, Chairman Tegletija required an amount of minimum EUR 600 million to be provided to BIH, through joint efforts for support and recovery from the crisis, in order to assist adequately to the health sector, as well as the economy, considerably affected by the crisis.

The Chairman of the Council of Ministers proposed a request to be sent to the IMF Executive Board in Washington for an increase of funds under the Instrument for Quick Funding from the current 50% to 100% of paid-in quota, which would provide an increase from EUR 165 million to EUR 330 million, to be approved to BIH under the Instrument.

Turning o the economic aspect of the crisis, Chairman Tegeltija required the representatives of the international financial institutions to, having regard of the extraordinary circumstances, make restructuring of their existing arrangements and align their existing cooperation strategies with BIH to the current developments, so as to respond adequately and timely to the crisis, which is to inevitably result in a drop of employment rates in BIH.

During the talks a conclusion was made jointly that it is of an extreme importance to set-up funds for the economic recovery at the Entity level, and t replenish those funds, also by international financial institutions funds and the European Union, which would help economy to recover, particularly though real sector and employment.

Also, it was assessed as necessary to continue joint coordination by all levels of authority in BIH through the Council of Ministers, in order to implement agreed-to measures in a more effective and speedy manner.

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